There are many reasons why Manchester is an attractive option to many companies and investors looking to do business.
Firstly, it’s the largest city region economy outside London and has a gross value added (GVA) of £78.8 billion. A report from The Resolutions Foundation even says that Greater Manchester is “still at the foothills” of its economic revival. On top of this, there are plans to expand beyond the city centre itself, with the Atom Valley plan paving the way for former mill towns to prosper.
Leading firms that continue to grow
Recently, one of the leading national law firms, Mills & Reeve, recruited Tom Shorten as a partner to boost its Manchester corporate team and expand its private equity offering in the North West. The Manchester corporate practice has grown significantly, showcasing great promise for their legal service offering in this part of the country.
Wide array of business sectors
Beyond the legal sector, there are numerous areas that are thriving in Manchester. The city has attracted a wide array of businesses within and outside the following sectors:
The presence of the BBC, Old Trafford and countless corporate and finance businesses based in Spinningfields also make it a highly sought-after destination for those working in the relevant industries. This creates an appealing prospect for other companies in these sectors who may want to tap into the talent available.
Educational hub
The presence of reputable universities such as the University of Manchester, Manchester Metropolitan University, the University of Salford, the University of Bolton and the Royal Northern College of Music means that the city benefits from a fresh pool of talent across a range of specialisms each year.This again, is beneficial to companies as a wealth of jobs means that the city can retain its talent more effectively.
Eco-focus
Great Manchester has ambitious climate action plans in placeto reduce carbon emissions and enhance the local environment. There are plans to be carbon neutral by 2038, for instance. This target and others are underpinned by sector-focused goals, such as integrating more renewable energy into the local energy supply and improving public transport options. On top of this, there are a number of green infrastructure projects in motion, such as the Castlefield Viaduct, to complement existing green spaces across the cityand surrounding areas.
Friendly atmosphere
Manchester is frequently referred to as one of the UK’s friendliest cities. Whether down to its Northern charm or how the city pulls together during periods of crises, such as the pandemic, it’s clear that the community spirit is alive and thriving. This is an important base when considering a destination set for economic success.
